Verizon Communications, Inc.

Sector: Radiotelephone Communications Region: NY, United States

Exchange/Ticker: New York Stock Exchange: VZ | Frankfurt Stock Exchange: BAC | London Stock Exchange: VZC

Company Description

Verizon Communications Inc. is a holding company, that provides broadband and other wireless and wireline communications services to consumer, business, and government and wholesale customers. It also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers integrated business solutions to customers. The company operates its business through two segments: Verizon Wireless and Wireline. The Verizon Wireless segment provides communications products and services including wireless voice and data services and equipment sales, which are provided to consumer, business and government customers across the United States. The Wireline segment provides communications products and services including local exchange and long distance voice service, broadband video and data, IP network services, network access and other services to consumers, small businesses and carriers in the United States, as well as to businesses and government customers. Verizon Communications was founded in 1983 and is headquartered in New York, NY.

Similar to: AltiGen Communications, Inc., Telekom Austria Group

Featured Media

Verizon Leadership at CES

Executives

Lowell C. McAdam, Chairman and Chief Executive Officer

Lowell C. McAdam is chairman and chief executive officer of Verizon Communications, with responsibility for the operations of Verizon, including all business units and staff functions. In addition, he is chairman of the Verizon Wireless Board of Representatives. McAdam succeeded Ivan Seidenberg as CEO on Aug. 1, 2011 and as chairman on Jan. 1, 2012. From October 2010 until he assumed his current position, McAdam served as president and COO and had responsibility for the operations of the company’s network-based businesses -- Verizon Wireless and Verizon Telecom and Business -- as well as Verizon Services Operations. He was also responsible for the technology management and CIO functions. Before that, McAdam held key executive positions at Verizon Wireless since its inception in 2000 and built the company into the industry’s leading wireless provider, with the nation's largest, most reliable wireless voice and 3G broadband data network. He was president and CEO of Verizon Wireless from 2007 until being named COO of Verizon, and before that served as Verizon Wireless’ executive vice president and chief operating officer. Earlier, McAdam was president and CEO of PrimeCo Personal Communications, a joint venture owned by Bell Atlantic and Vodafone AirTouch. He also served as PrimeCo's chief operating officer, responsible for overseeing the deployment of the new company's customer service operations and all-digital network. McAdam has also served as vice president-international operations for AirTouch Communications and was lead technical partner for cellular ventures in Spain, Portugal, Sweden, Italy, Korea and Japan. McAdam joined AirTouch as executive director of international applications and operations in 1993. From 1983 to 1993, he held various executive positions with Pacific Bell, including area vice president of Bay Area marketing and general manager of South Bay customer services. McAdam is past chairman of the board of directors of the CTIA, the wireless industry trade association. He is a director of the National Academy Foundation, a partnership between business leaders and educators that helps high schools across the country establish and run technical and service academies to prepare students for college and careers. He earned a bachelor's degree in engineering from Cornell University and a master's degree in business administration from the University of San Diego. He also spent six years in the U.S. Navy Civil Engineer Corps and became a licensed professional engineer in 1979.

Francis J. Shammo, Executive Vice President and Chief Financial Officer

Fran Shammo is executive vice president and chief financial officer for Verizon Communications, responsible for the company’s finance and strategic planning operations, and financial transaction services. Before being appointed to his position, effective Nov. 1, 2010, he was president and chief executive officer of Verizon Telecom and Business, responsible for sales, marketing and customer service excellence for the company’s consumer, small-business, enterprise and wholesale customers worldwide. The unit provides broadband, communications and entertainment services over its state-of-the-art, all-fiber FiOS network and delivers professional services and advanced IT, security, communications and networking solutions globally for enterprise customers. Previously, Shammo was president of Verizon Business, and prior to that appointment he served as senior vice president and chief financial officer for Verizon Business. Shammo has also served as president - West area for Verizon Wireless, responsible for the company's operations in the 13 states west of Colorado. He was vice president and controller at the time of Verizon Wireless’ launch, and was responsible for formulating and implementing its financial processes, as well as leading Sarbanes-Oxley compliance and reporting requirements. Shammo joined Bell Atlantic Mobile in 1989 as general manager for accounting operations, and later held a series of positions of increasing responsibility in finance, mergers and acquisitions, logistics, facilities, regional operations and planning. Shammo acquired public accounting, retail and tax experience before entering the wireless industry. Shammo is a member of the Philadelphia University Board of Trustees. He also served as a member of the Board of Micrus Endovascular Corporation and was chairman of its audit committee, before the company was acquired by Johnson & Johnson in September 2010. He holds a bachelor’s degree in accounting from Philadelphia University, a master's degree in business administration from La Salle University, and is a Certified Public Accountant.

Holly Hess Groos, Senior Vice President - Operational Excellence and Process Trans

Holly Hess Groos is senior vice president and head of the Operational Excellence and Process Transformation Organization, reporting directly to President and CEO Lowell McAdam. The newly formed organization is designed to improve the value Verizon delivers to customers, employees and shareowners by identifying and implementing process improvements that will create a more efficient, effective and agile company. Before assuming her current duties, Hess, who has more than 20 years of experience in finance and telecommunications, served since October 2009 as senior vice president and treasurer for Verizon, with responsibility for corporatewide financing, cash management, pension and insurance activities. Her responsibilities expanded in September 2010 when the Verizon Capital Group (VCG) became part of the Treasury organization. The VCG is involved in asset-based financing, tax credit investment activities as well as leasing and financing support for sales of equipment and services to business customers. Previously, Hess was senior vice president and chief financial officer of Verizon Business, responsible for the organization's global controller, financial analysis and planning, auditing, tax, treasury, revenue assurance, business strategy and development, and contract and pricing organizations. Before that, Hess was vice president-finance and chief financial officer for Verizon Services. She played an instrumental role in the formation of this organization, which consolidated the shared services functions from across Verizon into one organization to improve effectiveness. Responsible for finance operations, customer financial services and the supporting finance functions, Hess led an organization focused on improving customer service, driving efficiencies and reducing operating costs across all of Verizon's business units. She was appointed to this role in October 2005. In addition, Hess was vice president-finance for Verizon Wireless' Northeast area. She had responsibility for financial planning and analysis, revenue assurance, inventory, compliance and customer financial services. In addition, Hess oversaw financial operations in the area's five regions (New England, upstate New York, New York, Philadelphia and Washington/Baltimore/ Virginia). She was appointed to this role in April 2000. Prior to this, Hess worked as executive director-finance for Bell Atlantic Mobile's New York Metro region. Earlier she served as director-financial planning and director-mergers and acquisitions at NYNEX Corporation. Hess began her telecommunications career in 1990 as a controller for NYNEX Computer Services. She has also worked as a senior auditor at Price Waterhouse and Deloitte and Touche. She is a member of the Board of Directors of the Council for Economic Education, and holds a bachelor's degree in accounting from the Miami University of Ohio and is a certified public accountant.

Featured Company

Aben Resources Ltd.

Vancouver, BC, CA

Aben Resources (TSX.V: ABN) is a Canadian gold and silver exploration company with a focus on developing properties in the Yukon.… Learn more →

Webcasts & Earnings Calls

• Fourth Quarter 2012 Earnings Call

Corporate Documents

• Fourth Quarter 2012 Results

Related Links

• News at a Glance
• Investor Calendar
• Industry Overview